Stifel Financial Corp Grows Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Stifel Financial Corp boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 141.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,461 shares of the company’s stock after acquiring an additional 57,638 shares during the period. Stifel Financial Corp owned 0.06% of Astera Labs worth $5,158,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALAB. FMR LLC grew its stake in shares of Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the last quarter. Fred Alger Management LLC grew its position in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Maverick Capital Ltd. increased its stake in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Astera Labs in the third quarter worth about $52,049,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after buying an additional 873,412 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALAB shares. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $94.67.

Astera Labs Price Performance

Shares of ALAB stock opened at $132.14 on Friday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $132.68. The firm has a fifty day moving average price of $88.64 and a 200-day moving average price of $64.23.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. This trade represents a 8.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,154,820 shares of company stock valued at $195,106,438.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.